The IQD is not on a managed float but a peg to the dollar…As for a float in the future, the IMF is very clear on this directive as Iraq needs to exit the peg prior to opening their capital account to foreign investment. This is all in the Article IV Consultations… [If Iraq floated their currency they would go bankrupt.] The CBI controls the currency and the amount of currency in circulation just like any other country. Some 200 countries float their currency are they bankrupt?  Every single one of us should hope and pray the CBI gives up the peg chooses a new exchange rate regime that is a float and allows the dinar to gradually rise over time as the IMF stated allowing them to reduce the money supply.